Gestamp, the Spanish-headquartered supplier of components to the global automotive sector, has acquired a majority stake in an unnamed Romanian company, a supplier of small and medium-sized stamped components.
With this acquisition, Gestamp now has operations in 21 countries, the company says in a releease monitored by Kallanish. The new Romanian asset is also a main supplier to the Renault-Nissan Group and the acquisition will enable Gestamp to accompany such a strategic client in Romania.
The newly-acquired company is located on the outskirts of Pitești, the main centre for the automotive industry in Romania. It has over 200 employees and invoiced €17 million ($18m) in 2016. Gestamp completed the acquisition through its Turkish subsidiary, Beyçelik Gestamp.
Romania is the 27th largest producer of cars globally, with an output of some 387,000 vehicles/year; Gestamp says. Both Renault Nissan and Ford, two of its major clients, have plants in the country.